Try it! I am in the process of getting rid of my starboard toerails. They do not like to flex as wood does so they were cracky upon installation. They were cut straight and flexed to match the curve of the deck. They had to be routed and cut a number of ways to get them to do what they did not want to do. Ultimately they are parting at the bolts and pretty much all along the length of it. I have heard feedback that the waterline plastic rails will shatter and leave you with exposed bolts / screws.
I think the trex deck style is a worthy trial. I've heard there is a product out there something called Aztex or similar which works better than trex.
I am getting a set from waterline, in teak. I'm going to use some newer school teak oil. I liked the white, it looked cool, but ultimately it wasn't a true solution and it wasn't more maintenance free. I could have replaced the white ones several years ago and they are only about 10 years on.